Under Armour lowers sales guidance after flat quarter

Under Armour Dubai 1

Sportswear retailer Under Armour has slashed its full-year sales outlook as a result of “challenges” in North America and flat revenues during its second quarter.

Under Armour posted revenue of $1.6bn (£1.3bn) for the three months to September 30, 2023, down 1% on a currency-neutral basis.

Wholesale sales also declined 1% to $940m (£765.95m), while direct-to-consumer revenue increased by 3% during the quarter to reach $596m (£485.65m).

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